City Office REIT Acquires Office Complex in Raleigh, North Carolina for USD 330m.
MANews-(C)2009-2022
Canada-based real estate investment trust City Office REIT, Inc. (NYSE: CIO) has closed the acquisition of Bloc 83, a two-building office complex located in Raleigh, North Carolina, for a gross purchase price of USD 330m exclusive of closing costs, the company said.
The 494,000 square foot, newly built class A complex possesses a prime location, market-leading features and strong tenancy.
Bloc 83 is situated in the Glenwood South submarket, a live-work-play district of downtown Raleigh.
The first building was delivered in 2019 and is currently 93% leased with a weighted average lease term remaining of approximately 10.3 years.
The second building was delivered in 2021...
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